Profit Thieves: Protect Yourself from Stolen Profits

Profit Thieves. UGH!!

Nearly every business faces them and needs to consistently fight off Profit Thieves.

Protecting yourself against Profit Thieves plays a critical role to your success.

Especially for small business owners.

So let’s take a hard look.

When you dissect your business, think about any products, services and solutions that you wish would simply vanish.

Start by identify any products, services or solutions where you feel stretched.

Tasks that drain precious resources from your company.

Thus, hurts your bottom line.

We need to capture those profit thieves and banish them from the premises.

Time wasters, energy drainers and money losers.

Additionally, think about those customers that you dread servicing.

Yes, you most likely have customers that are indeed NOT Soulmates.

Those fun folks where you and your business would be so much better off without them.

On the flip side, odds are they are not entirely thrilled with you as well.

Here is a helpful suggestion and a healthy means to shed those non-Soulmates.

Align yourself with a resource partner that delivers powerful results in any areas that fall out of your wheelhouse.

This is where Niche Down til it Hurts…So Good comes into play.

Identify the areas of your business and customers that no longer fit your formula.

Introduce and connect them with a trusted, valued partner who hits the ball out of the park with that product of service.

It’s like finally breaking up with that awful boyfriend or girlfriend that you just did not have the heart to do so.

This strategy finally creates the opportunity to make a clean and overdue break.

Set them up with a friend. Problem solved.

The conversation would go like this…

“You know, things just aren’t working out any longer.”

“Are you breaking up with me?” (sniff)

“Hey, It’s not you, it’s me. I’m a hot mess and no longer a good fit for you. However, you know who thinks that you are absolutely AMAZING and would love to chat. Actually they can’t stop talking about you. They said YOU are their SOULMATE.”

“Really, they said that? I had no idea.”

“Yes, you are going to be SO MUCH happier with them.”

Problem solved.

Piece of cake, right?

Let’s take this one step further…

For those customers that you wouldn’t wish on your worst enemy…You would do yourself a huge favor by politely parting ways and sending them to your competition.

The customer who constantly pays 90 days or later.

Demands a Lexus quality on a Pinto budget (Google it).

Keeps you up at night. You cringe every time they reach out.

Guide these folks to your competition so they can suck THEIR time, energy or resources.

Wrapping It Up

If you found this information valuable, check out some of our other blogs.

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